Bank failure · GA

First Southern National Bank (Statesboro, GA) — failed August 19, 2011

First Southern National Bank of Statesboro, Georgia was closed on August 19, 2011 and resolved through a purchase and assumption. Heritage Bank of the South (GA) took over its insured deposits. At failure it held $164.6M in assets and $159.7M in deposits. The FDIC's estimated loss on the failure is $22.2M (13.5% of assets).